(MENAFN - PR Newswire) DUBLIN, June 27, 2019 /PRNewswire/ -- The"Middle East and Africa (MEA) HVAC Market (2014-2024)"report has been added to ResearchAndMarkets.com's offering.
The Middle East and Africa (MEA) HVAC market is projected to generate a revenue of $10.1 billion by 2024, as per this research.
The market is being driven by several factors, such as surging religious tourism, growing construction industry, and upcoming major events. Further, climate change is boosting the market growth year-over-year (YoY) in the Middle East as well.On segmenting by HVAC type, the MEA HVAC market is categorized into ventilation, heating, and cooling. The cooling category is subdivided into chillers, split units, ducted split/packaged units, VRFs, and room air conditioners (RACs). Among these, the VRF category is expected to grow the fastest during the forecast period, as VRF systems are more economical and are becoming popular in commercial spaces, such as hypermarkets/supermarkets, offices, and stadiums.In addition, the number of green buildings being constructed in the region is witnessing a positive YoY growth, which is driving the demand for VRF systems. The construction of green buildings, such as the King Abdullah Financial District in Saudi Arabia, are fueling the demand for high-efficiency VRF systems. VRF systems and single splits (ducted and ductless) together account for more than 50% of the total number of HVAC systems installed in commercial offices or buildings in the country.Looking at the increase in temperature in the Middle East and sub-Saharan region, having a HVAC system is no longer considered a luxury, but a necessity. The change in climate has become a major driver for HVAC systems sales that were at their peak during the summer of 2017. That season, countries, including Kuwait, Iran, and Iraq, recorded the highest temperature of 54C! According to the Max Planck Institute for Chemistry, the summer temperature in the MEA region is slated to rise twice as fast as the global average. Therefore, the increasing temperature would offer lucrative opportunities to the players in the Middle East and Africa HVAC market.Geographically, the African continent is divided into two by the Equator. Now, countries close to the Equator have a mean yearly temperature of around 32C with 40-50% humidity. The economic stability in countries, such as the Republic of Congo, Uganda, Kenya, Gabon and Nigeria, has led to a rise in the spending capacity of citizens. Therefore, the increasing income, and the hot and humid climate in the region are leading to the growth of the Middle East and Africa HVAC market.Johnson Controls International plc, United Technologies Corporation, and Ingersoll-Rand plc together held over 50.0% share in the Middle East and Africa HVAC market in 2017. Apart from these, other companies are also increasingly introducing new products to maintain or establish their leadership. For example, Daikin Industries Ltd. announced the launch of its high-efficiency inverter screw chiller series with R-1234ze(E) refrigerant in December 2017.
Key Topics Covered
Chapter 1. Research Background1.1 Research Objectives1.2 Market Definition1.3 Research Scope1.3.1 Market Segmentation by HVAC Type1.3.2 Market Segmentation by End-User1.3.3 Market Segmentation by Country1.3.4 Analysis Period1.3.5 Market Data Reporting Unit220.127.116.11 Value18.104.22.168 Volume1.4 Key StakeholdersChapter 2. Research Methodology2.1 Secondary Research2.2 Primary Research2.2.1 Breakdown of Primary Research Respondents22.214.171.124 By country126.96.36.199 By industry participant188.8.131.52 By company type2.3 Market Size Estimation2.4 Data Triangulation2.5 Assumptions for the StudyChapter 3. Executive SummaryChapter 4. Introduction4.1 Definition of Market Segments4.1.1 By HVAC Type184.108.40.206 Heating220.127.116.11.1 Furnaces18.104.22.168.2 Heat Pumps22.214.171.124.3 Boilers126.96.36.199.4 Unitary Heaters188.8.131.52 Ventilation184.108.40.206.1 Humidifiers/Dehumidifiers220.127.116.11.2 Air cleaners18.104.22.168.3 Ventilation fans22.214.171.124.4 Air handling units and fan coil units126.96.36.199 Cooling188.8.131.52.1 VRF184.108.40.206.2 Ducted split/packaged unit220.127.116.11.3 Split units18.104.22.168.4 Chillers22.214.171.124.5 Room ACs4.1.2 By End-User126.96.36.199 Commercial188.8.131.52.1 Commercial Offices/Buildings184.108.40.206.2 Supermarkets/Hypermarkets220.127.116.11.3 Government18.104.22.168.4 Healthcare22.214.171.124.5 Hospitality126.96.36.199.6 Transportation188.8.131.52.7 Others184.108.40.206 Industrial220.127.116.11.1 Oil and Gas18.104.22.168.2 Food and Beverage22.214.171.124.3 Automotive126.96.36.199.4 Energy and Utilities188.8.131.52.5 Others184.108.40.206 Residential4.2 Value Chain Analysis4.3 Market Dynamics4.3.1 Trends220.127.116.11 Adoption of energy efficient HVAC systems18.104.22.168 Adoption of low global warming potential (GWP) refrigerants4.3.2 Drivers22.214.171.124 Surging construction industry in GCC countries126.96.36.199 Climate change driving the need for HVAC systems188.8.131.52 Impact analysis of drivers on market forecast4.3.3 Restraints184.108.40.206 High upfront cost and trained personnel requirements220.127.116.11 Impact analysis of restraints on market forecast4.3.4 Opportunities18.104.22.168 Increasing deployment of VRF systems in high-rise buildings4.4 Porter's Five Forces AnalysisChapter 5. MEA Market Size and Forecast5.1 By HVAC Type5.1.1 Heating, by Equipment Type5.1.2 Ventilation, by Equipment Type5.1.3 Cooling, by Equipment Type5.2 By End-User5.2.1 Commercial, by Category5.2.2 Industrial, by Category5.2.3 By Residential5.3 By CountryChapter 6. Saudi Arabia Market Size and ForecastChapter 7. U.A.E. Market Size and ForecastChapter 8. Egypt Market Size and ForecastChapter 9. Israel Market Size and ForecastChapter 10. Nigeria Market Size and ForecastChapter 11. Oman and Bahrain Market Size and ForecastChapter 12. South Africa Market Size and ForecastChapter 13. Kuwait Market Size and ForecastChapter 14. Qatar Market Size and ForecastChapter 15. Rest of MEA Market Size and ForecastChapter 16. Competitive Landscape16.1 Market Share Analysis of Key Players16.2 Recent Activities of Key Players16.3 Strategic Developments of Key Players16.3.1 Mergers and Acquisitions16.3.2 Partnerships16.3.3 Product Launches16.3.4 Facility Expansions16.3.5 Client Wins16.3.6 Other DevelopmentsChapter 17. Company Profiles17.1 Johnson Controls International PLC17.1.1 Business Overview17.1.2 Product and Service Offerings17.1.3 Key Financial Summary17.2 Ingersoll-Rand PLC17.3 United Technologies Corporation17.4 Daikin Industries Ltd.17.5 Mitsubishi Electric Corporation17.6 Toshiba Carrier Corporation17.7 LG Electronics Inc.17.8 Fujitsu Limited17.9 Midea Group Co. Ltd.17.10 Gree Electric Appliances Inc. of Zhuhai17.11 Danfoss A/SFor more information about this report visithttps://www.researchandmarkets.com/r/pmtxfm
Research and Markets also offersCustom Researchservices providing focused, comprehensive and tailored research.
Research and Markets Laura Wood, Senior or E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Also from this source
Therapeutic Drug Monitoring Market Report 2019: Integrating...
Global Surge Protection Device Market Outlook 2019-2027 -...
More news releases in similar topics
Publishing & Information Services
HVAC (Heating, Ventilation and Air-Conditioning)
Household, Consumer & Cosmetics
Surveys, Polls and Research